Algorand future

Post by Futurecurrency on Aug 24, 2021

How will algorand survive after 2030 if giving grants to them cost 2.5 billion till 2030 this is very much wastage of grants in the name of technology

Nodes can support either way even if they are offered 0.10% reward they would support. There is absolutely no sense to give early backers 25% of algo total supply.

This is not how blockchain should work but peer to peer network to help reach consensus.

Giving grants to early backers is wastage of money and should be corrected during governance phase.

Post by SGen on Aug 25, 2021

I totally agree… Does anybody want to create with me competitive algorand network which will have fair distribution of the coins? PM me please.

Post by robert on Aug 26, 2021

Blockchain is very competitive space now. Having superior technology is not enough to stay in the game. We need to have a strong community and a portfolio of products. I’m not sure what’s the best strategy to incentivize builders and build communities, but I think there is no way without grants.

Post by SGen on Aug 26, 2021

What about fair distribution of coins? Some kind of much more transparent grant system should be also incentive… also opportunity to run the relay node in fair and competitive manner

Post by scholtz on Aug 26, 2021

How do you want to distribute coins?

Post by robert on Aug 26, 2021

Grants: AFAIK grants are distributed by “contracts” and by gitcoin. Some grant projects are listed in the developer site. Ethereum community had (or still has?) been voicing same problems - many grants without open list of grants (which project receives a grants and what they are supposed to do)? Maybe we can have a Quarterly review? This is what Cosmos is doing for example: ICF Q2–2020 Funding Recipients.

Post by SGen on Aug 26, 2021

Lets issue the same - 10 000 000 000 fair coins… lets distribute 90% among ordinary people by the giveaway and staking mechanism… each person who signs up will receive same amount … eg 100 coins per day… it gives us 90000000 days per person… or if the community would be of size 50000 people, it would be enough for 1800 days (5 years).

Post by Futurecurrency on Aug 26, 2021

Grants should totally be up to the community to decide and the algorand foundation is wasting grants in short term makes me nervous … in the end governance would not have power to issue grants.

Post by D3G on Aug 26, 2021

Howdy! I totally agree that the grants should be decided also by the community, because after all, the community should benefit first and the most from these!

Post by Futurecurrency on Aug 28, 2021

Governance can’t work according to how much algos someone holds because the early backers and selected relay nodes owners already have enough of algorand to do things according to how they like…

This form of governance is just like a communist party where you can’t do anything but listen and follow orders.

Post by bhaney44 on Aug 28, 2021

No. Algorand is succeeding and will continue to do so.

Post by Futurecurrency on Aug 28, 2021

Such huge grants benefit the selected group of people who can in turn can become bad for the ecosystem. If such grants are issued out of circulating supply the governance would not hold enough power to issue grants later on.

Post by Maugli on Aug 28, 2021

Silvio’s original vision was to have Algorand as a REPLACEMENT for the wasteful BTC.

And where is Algorand on this chart after two years? We all know, where it is - you can see right of ADA, DOGE, LTC, as a miniscule rectangle.

Post by Futurecurrency on Aug 28, 2021

Long story short: Algorand is wasting billions which could be used for grants by community and not by algorand foundation.

Post by robert on Aug 30, 2021

BTC didn’t have grants and have grown naturally by the early supporters and early backers who believed in the project.

Post by Futurecurrency on Aug 30, 2021

It is not nice to build dreams blindly bitcoin is the first crypto you think algorand will have adoption magically cuz it can process 2 seconds block time meanwhile keeping the network centralized by giving grants to few selected people…

Post by Futurecurrency on Aug 30, 2021

If you check flow, solana etc it’s just another crypto currency ALGORAND.

If it was real we wouldn’t be on their track and with rank 47.

Post by Celestino_127 on Aug 30, 2021

What do you mean by wasting resources? Have you seen their report or made an analysis to make that decision?

Post by Futurecurrency on Sep 1, 2021

I really think something urgent needs to be done about the 2030 plans.

Post by scholtz on Sep 1, 2021

It has been done and the first question has been placed on the mainnet…

Public voting using algorand network.

Post by SGen on Sep 1, 2021

Great job with the voting system…yes, the time is the main issue.